A project has an cost of $25,000 and has projected cash flows of:

Year 1: $12,500

Year 2: $8,000

Year 3: $6,000

Year 4: $2,500

1. What is the Projects IRR? Should you accept or reject the project if your required return is 6.5%?
2. What is the Projects NPV if your required return is 6.5%?